EQT, a Swedish investment firm, and GIC, Singapore’s sovereign wealth fund, have announced plans to jointly acquire a majority stake in Calisen Group, a leading UK-based energy infrastructure provider. The deal represents a strategic investment in the energy transition sector, reflecting the growing demand for sustainable energy solutions.
Overview of the Companies
EQT AB is a global investment organization managing €246 billion in assets, specializing in long-term investments in infrastructure, technology, and sustainability. Its focus on sustainable investment aligns with the goals of the energy transition.
GIC is one of the world’s largest sovereign wealth funds, headquartered in Singapore. It has significant expertise in infrastructure investments, emphasizing stability and long-term growth.
Calisen Group, based in Manchester, is a prominent provider of energy transition infrastructure, including smart meters, electric vehicle chargers, heat pumps, and solar systems. With approximately 16 million installed meters across the UK, it plays a critical role in supporting energy efficiency and decarbonization goals.
Transaction Details
The acquisition will see EQT and GIC purchase Calisen from a consortium of investors that includes Global Infrastructure Partners, BlackRock, Mubadala Investment Company, and Goldman Sachs Alternatives. Financial details of the deal were not disclosed but will require regulatory approval.
EQT and GIC plan to leverage their resources and expertise to expand Calisen’s operations, particularly in energy transition technologies. The focus will be on scaling its smart meter installations, exploring new markets abroad, and diversifying into adjacent sectors such as smart water meters and renewable energy systems.
Strategic Importance
The acquisition underscores the critical role of smart meters in enabling a more efficient energy system. Smart meters support better grid management, provide consumers with real-time usage data, and enable cost-saving opportunities through optimized tariffs. These technologies are pivotal for achieving the UK’s net-zero emissions target.
EQT’s Kunal Koya and GIC’s Ang Eng Seng emphasized Calisen’s strong market position and its alignment with global trends in sustainability. Calisen CEO Sean Latus highlighted the company’s ambition to grow its energy transition portfolio with the support of the new investors.
Conclusion
This acquisition is a significant step in advancing energy transition infrastructure in the UK and beyond. By investing in Calisen, EQT and GIC aim to contribute to a more sustainable and efficient energy future, reinforcing the importance of public-private partnerships in tackling climate challenges.